Joel has four transactions involving the sale of capital assets during the year resulting in a STCG of $5,000, a STCL of $12,000, a LTCG of $1,800 and a LTCL of $1,000. As a result of these transactions, Joel will
A. deduct losses of $3,000 against ordinary income and carry $3,200 of losses back two years.
B. deduct losses of $3,000 against ordinary income and carry $3,200 of LTCL forward.
C. deduct losses of $3,000 against ordinary income and carry $3,200 of STCL forward.
D. deduct net losses of $6,200 against ordinary income.
Answer: C
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